BUSINESS
Bankers seek dilution of new investment banker norms proposed by Sebi
I-Bankers have made a representations to Sebi, asking it to revisit the definition of "relatives" in the August 28 consultation paper, saying it is too wide and will be hard to comply with
BUSINESS
Hyundai IPO, India’s biggest share sale, is also its most expensive
The South Korean car maker spent Rs 624 crore, or $74 million, to execute the Rs 27,855 crore-IPO of Hyundai Motor India
BUSINESS
Closely watching the impact of Chinese export controls: Waaree Energies Chairman
Waaree exports 44 percent of its modules and the US is one of its key markets. The company is planning to set up a 1.6 GW module facility in Houston.
BUSINESS
Torrent Power eyes Rs 3,000-4,000 cr fundraise through QIP
Torrent’s power business spans conventional coal and gas power generation, renewable assets, transmission, as well as green hydrogen projects.
BUSINESS
Strained India-Canada relations unlikely to impact long-term capital flows, say I-bankers
Canadian pension funds such as CPPIB, CDPQ and private investors like Brookfield Asset Management and Fairfax Financial have collectively invested around $21 billion in India over the past five years.
BUSINESS
Shapoorji Pallonji likely to pay bondholders by October-end; Afcons IPO to open next week
The SP Group in September got the bondholders' nod to move the deadline for interest payment of Rs 1,800 crore by three months to December 31
BUSINESS
Multiples PE-backed Veritas Finance plans over Rs 3,000 crore IPO
Veritas Finance’s profit increased to Rs 245 crore in FY24, as against a profit of Rs 176 crore in the previous fiscal.
BUSINESS
A look at Ratan Tata’s personal estate worth Rs 7,900 cr
Ratan Tata owns a small direct stake of 0.83% in the Tata Group holding company Tata Sons
BUSINESS
Capex for airports, expressway, green energy projects: How Adani Enterprises plans to use its QIP proceeds
Adani Enterprises on October 9 launched its QIP to raise as much as $500 million. The company may raise more funds using a green shoe option depending on investor demand.
BUSINESS
Adani Enterprises launches first tranche of QIP to raise $500 million; may raise more later
Funds to be raised from the proposed QIP are planned to be used for capital expenditure purposes as well as to repay some existing debt of the company and its subsidiaries.
BUSINESS
Adani Enterprises taps Gulf sovereign funds, GQG to raise $2 bn from QIP
Funds to be raised from the proposed QIP are planned to be used for capital expenditure purposes as well as to repay some existing debt of the company and its subsidiaries.
BUSINESS
Macquarie looking to deploy capital in India through multiple pools, including its balance sheet: India Head Poddar
Abhishek Poddar, India Country Head at Macquarie Group, says the company has a long-term and positive outlook on India, and it is excited about the opportunities covering the energy transition, infrastructure and digital space.
BUSINESS
EV ride-hailing startup BluSmart in talks to raise up to $100 million
BluSmart, which operates in Delhi-NCR and Bengaluru, went international in June with the launch of a premium all-electric limousine service in Dubai.
BUSINESS
Heidelberg exploring sale of India business; taps Adani, UltraTech and JSW Cement
Germany's Heidelberg owns 69.39 percent of HeidelbergCement India, which is listed on the local stock exchanges
BUSINESS
Shapoorji Pallonji Group seeks waivers from lenders for launch of Afcons pre-IPO and IPO share sale
On October 1, Moneycontrol reported that SP Group altered its plans for the IPO of Afcons. Now, it plans raise up to Rs 4,000 crore in a pre-IPO round and around Rs 4,500 crore in the IPO. Earlier, the plan was to raise Rs 7,000 crore in the IPO.
BUSINESS
With refinancing done, focus will now be on debt reduction: Biocon Biologics CFO
The funds raised will go a long way towards helping the company repay the debt it had taken on for the acquisition of Viatris Inc's biosimilars portfolio for over $3 billion.
BUSINESS
Hyundai Motor India likely to launch $3-billion IPO on October 14
The dates for the IPO are almost final, barring any unforeseen turn in market sentiment because of escalating tensions in West Asia, sources say
BUSINESS
Successful tech IPOs revive VCs' optimism; AI attracts key investments: Stellaris Venture Partners
Long-term investment strategies, especially in early-stage start-ups, hold the key for VC firms, says Rahul Chowdhri, Partner, Stellaris Venture Partners.
BUSINESS
Apollo Hospitals in talks to sell stake in multispecialty clinics chain, IFC to exit
IFC owns around 31 percent in the company and first invested in the Apollo subsidiary in 2016
BUSINESS
India Inc fears crude oil rise, supply chain disruptions but impact likely to be limited
The price of crude oil rose over 3% on October 2 on output concerns following Iran's biggest military blow against Israel, according to a Reuters report.
BUSINESS
SP Group may upsize Afcons Infrastructure IPO plan to Rs 8,500 crore
The group's move to boost Afcons IPO size comes as it negotiates with lenders to refinance debt. A bigger fundraise will help the group better manage its debt obligations
BUSINESS
Swiggy provides special indemnities to directors of SoftBank, Accel and Prosus, ahead of IPO
Prosus owns 30.95%, while SoftBank and Accel own 7.75% and 6.08%, respectively, of Swiggy. Prosus is eligible to nominate two board members, while SoftBank and Accel can name one each.
BUSINESS
Shapoorji Pallonji gets bondholders' approval to postpone Rs 1,800 cr interest payment to December end
In June last year, SP Group entity Goswami Infratech raised Rs 14,300 crore through rupee-denominated zero-coupon NCDs from a group of investors, including Cerberus Capital, Varde Partners, Canyon Capital, Davidson Kempner and others. SP Group had to make an interest payment of close to Rs 1,800 crore on these NCDs by September 30.
BUSINESS
SEBI objects to use of IPO proceeds for paying back promoter loans
IPOs of some companies are facing delays as SEBI expects them to change the use of proceeds or repay promoter loans using other financing routes, sources say
